Tuesday, March 8, 2011
European investments in smart grid technologies will reach $80.3 billion between 2010 and 2020, according to a new report from cleantech research and consulting company Pike Research. And smart meter deployments will hit 240 million in the same time period.
However, the European smart grid vision extends far beyond metering. Smart grids there are a significant part of the effort to achieve a low-carbon Europe by 2050, meaning dramatic reductions in greenhouse gas emissions and the almost complete elimination of fossil fuels from its energy portfolio.
Eric Woods, a senior analyst at Pike, said that while smart meter deployments are getting most of the spotlight now, transmission upgrades will be the biggest chunk of Europe's smart grid spending into 2020 – 37% of total investments, followed by smart meters, distribution automation and substation automation. Also, EV management will absorb significant investments during the later years of the forecast period.
The report, Smart Grids in Europe, also details energy policy development, national smart grid strategies and the similarities and differences among European countries.
Posted by jdean at 6:43 AM